EX-12.1 3 a2149801zex-12_1.htm EXHIBIT 12.1
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Exhibit 12.1

STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)

 
  Year Ended December 31,
  For the nine months ended September 30,
 
  1999
  2000
  2001
  2002
  2003
  2004
  2003
  2004
Earnings                                                
  Income (loss) from continuing operations before provision for income taxes, minority interest and extraordinary item   $ (9,569 ) $ 29,794   $ 90,322   $ 173,496   $ 222,553   $ 261,801   $ 161,919   $ 195,011
  Interest and amortization of deferred finance costs     116,191     127,070     94,248     62,560     70,792     77,856     51,926     56,269
  Amortization of capitalized interest     57     113     193     287     370     433     269     321
  Implicit rental interest expense     6,257     7,710     10,507     13,425     17,289     20,347     12,587     15,053
   
 
 
 
 
 
 
 
Total Earnings   $ 112,936   $ 164,687   $ 195,270   $ 249,768   $ 311,004   $ 360,437   $ 226,701   $ 266,654
   
 
 
 
 
 
 
 

Fixed Charges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
  Interest and amortization of deferred finance costs     116,191     127,070     94,248     62,560     70,792     77,856     51,926     56,269
  Capitalized interest     1,400     2,493     3,100     3,500     2,300     2,131     1,511     1,784
  Implicit rental interest expense     6,257     7,710     10,507     13,425     17,289     20,347     12,587     15,053
   
 
 
 
 
 
 
 
Total fixed charges   $ 123,848   $ 137,273   $ 107,855   $ 79,485   $ 90,381   $ 100,334   $ 66,024   $ 73,106
   
 
 
 
 
 
 
 

Ratio of earnings to fixed charges(1)

 

 


 

 

1.20

 

 

1.81

 

 

3.14

 

 

3.44

 

 

3.59

 

 

3.43

 

 

3.65
   
 
 
 
 
 
 
 

(1)
Earnings before fixed charges were inadequate to cover fixed charges by $10,912,000 for the year ended December 31, 1999.



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STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS)